Catellus Development has been actively working on the transformation of 208 acres of city-owned land in Austin’s Eastern Crescent for over a decade. This mixed-use project is now gaining momentum and shows great potential.
According to the Austin Business Journal, the California-based firm is seeking approval from City Hall to update Colony Park’s existing planned unit development (PUD) zoning. This will allow for higher density on the site, with plans to build 2,000-3,000 new housing units. The location is also strategically less than 10 miles away from Tesla Inc.’s gigafactory.
In addition to residential units, there are plans for 230,000 square feet of commercial space and 125,000 square feet of retail space within this new community. It is estimated that this development will create approximately 2
